Ireland targets online gambling operators with new taxes

Ireland targets online gambling operators with new taxes

Ireland is set to introduce a number of new online gambling tax rules after the country’s government approved the passing of the Gambling Act 2015.

Under new regulations set out in the now approved Act, online casino, games and bingo services will be subjected to a one per cent tax on gross gaming revenue in the country.

Operators that offer online sports betting services in Ireland will be charged at a 15 per cent net revenue rate for such operations. The rate is the same set by the UK Gambling Commission for onlien sports wagering operators in the regulated UK market.

In addition, online operators in Ireland will be required to obtain an approved licence from the country’s regulatory body. At a cost of €10,000 ($10,700), each licence will run for a two-year period.

Operators that offer services in the country without first acquiring a licence could face a fine of up to €300,000.

Irish Finance Minister Michael Noonan, who has been attempting to introduce new tax rules since he was first appointed to his government role more than three years ago, stated that the new regulations will be in place by August 1.

“The Betting Amendment Bill is just a first step in providing for a well regulated betting and gambling regime,” Noonon said in a statement. “This Bill will allow for the regulation of those providing betting services by remote means to persons within the jurisdiction for the first time.

“This is a major step in the right direction. The implementation of the regulatory regime for remote operators will also allow for the extension of betting duty to these companies.”